Shell beginning in October 2010 with a peak of 24,560 BOE/month
followed by a sharp decline and a steady production of 3,891 BOE/
month on average. The highest monthly cumulative production
was reached by a well operated by Matador Resources. The well
was drilled to the total measured depth of 15,939 ft with the lateral
length of 5,189 ft. Production started in January 2014 with a minor
spike followed by a steady decline before March 2016 when it was
recompleted to reach a record production of 148,720 BOE in May
2016.

The stretched exponential production decline (SEPD) method
is used to determine the estimated ultimate recovery (EUR) in
the study. This model, along with the data-intensive discovery,
help with forecasting of a controlled production for a single unconventional shale-well based on the data collected by processing
of parameters for a large number of wells. This method is a
modified version of traditional Arps method and, due to its bounded nature, is more applicable for unconventional reservoirs.

RESERVE FORECAST RESULTS

Since the number of wells in each lease is variant, the leases arecategorized into four groups: single-well, two-well, three-four-well,and five-plus-well (five and more than five wells) leases. Themonthly production of each lease is reported as barrels of oilequivalent ( 6,000 ft3 of gas= 1 BOE) to be more representative foreconomic evaluation. The decline curve method is applied to allmonthly production data regardless of shut-in time or re-fracturingintervals to provide an unbiased analysis. A production rate of 5BOE/day is considered as the economic limit of each lease in thisstudy.The EUR values of leases are collected for each group andutilized to rank the leases. By referring to the location of eachlease in the County, the maps describe the lease ranking for eachgroup based on EUR and cumulative production values to discoverwhat part of the County holds more reserve. Moreover, the EURvalues population is assumed to be normal in this study and thenormal distribution for the leases of each group based on 5,000ft lateral is provided. The pie charts show the operators distribu-tion for leases of each group.There are 152 single-well leases in Loving County (Figure 2).The highest number of leases are held by Anadarko and RoyalDutch Shell with 36% and 24% respectively. As of Q1 2017, themaximum cumulative production is 1,384 MBOE and the mini-